Pet Dietary Supplements Market Outlook, Current and Future Industry Landscape Analysis 2030

 


Future Market Insights (FMI) in a new study has projected the pet dietary supplements market to record impressive growth. According to the report, the market will reach a valuation of US$ 3.78 Bn by 2021.Pet humanization is a growing trend where owners are treating their pets as counterparts and wanting to provide their pets with best nutrition for their wellbeing. With pet ownership becoming widespread. Pet parenting or pet humanization has been fuelling the demand for pet dietary supplements.

This trend is being mirrored in the high frequency of the launch of innovative formulations in the market. According to Pet Food Processing, 45 new nutritional products for pets were launched in 2020. The pet owner’s love for their pets is driving the demand for pet dietary supplements, besides the fact that supplements ensure that the pets receive proper nutrition, which off-the-shelf pet foods might be void of. Additionally, pet dietary supplements find demand among the millennial care takers.

Millennial, who account for a majority of pet owners, also think that pets deserve the same treatment as small children, thus explaining the demand for pet dietary supplements. Natural and organic pet supplements are becoming increasingly popular. Herbs and superfood are being incorporated into the pet supplements, which will aid the overall market expansion.

Probiotic Supplements to Be Highly Sought-after

As in case of humans, probiotic supplements for dogs are used to aid digestive health and regularity. Probiotic nutritional supplements facilitate the regulation of the good bacteria in the digestive system that helps to break down dog food so that nutrients can be better extracted. The probiotic supplements can also inhibit the growth of harmful bacteria that can make both humans and dogs sick, an example of which is E. coli.

Obesity is a growing health problem among pets, encouraging an increasing number of veterinary practioners to open weight-loss clinics. According to the Association for Pet Obesity Prevention, 59% of cats and 54% of dogs in the U.S. were overweight or obese in 2016, and this concern has increased over the recent years. Weight management is trending within the pet industry and dietary changes are being taken care of so as to regulate the pet weight and ensure its health.

This change in consumer buying preference has encouraged the players in the market to focus on innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period. FMI in its latest study has forecast the market to rise at a CAGR of 7.1% between 2020 and 2030.

Click For More Info: https://www.futuremarketinsights.com/reports/pet-dietary-supplements-market

 

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